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FTCI

FTC SOLAR, INC.
CIK 0001828161 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
94.7
composite ยท 3 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท TRIGGERED100.0

Earnings quality

Beneish M-Score 11.53 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-24) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": 11.532,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.667,
    "GMI": 30.127,
    "AQI": 0.712,
    "SGI": 2.105,
    "DEPI": 1.342,
    "SGAI": 1,
    "LVGI": 1.118,
    "TATA": -0.413
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": -0.4574,
  "inputs": {
    "revenue_t": 99687000,
    "revenue_t1": 47355000,
    "total_assets_t": 111812000,
    "net_income_t": -79577000,
    "cfo_t": -33444000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1828161/000119312526120372/0001193125-26-120372-index.htm",
    "form": "10-K",
    "filed": "2026-03-24"
  }
}
P-12 ยท FY 2025-12-31 ยท ELEVATED60.2

Restatement predictor

F-Score 1.80 โ€” misstatement risk 1.8x the base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-24) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 1.805,
  "probability": 0.00668,
  "components": {
    "rsst": -0.4574,
    "drec": 0.159,
    "dinv": -0.0051,
    "soft": 0.7773,
    "dcs": 0.7665,
    "droa": -0.1712,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1828161/000119312526120372/0001193125-26-120372-index.htm",
    "form": "10-K",
    "filed": "2026-03-24"
  }
}
P-13 ยท FY 2025-12-31 ยท ELEVATED100.0

Zombie / distress

Interest coverage -4.32x below 1.0
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-24) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": -4.317,
    "2024-12-31": -79.444,
    "2023-12-31": 39.515,
    "2022-12-31": null
  },
  "consecutive_years_below_1": 2,
  "altman_z_double_prime": -13.146,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -35423000,
    "interest_expense_t": 8205000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1828161/000119312526120372/0001193125-26-120372-index.htm",
    "form": "10-K",
    "filed": "2026-03-24"
  }
}